Royal Caribbean’s bold comeback: How it conquered the cruise industry post-pandemic
Royal Caribbean Cruises Ltd. has grown into one of the world’s largest cruise companies through acquisitions and partnerships. Over the past two decades, it has expanded by purchasing major brands like Celebrity Cruises, Silversea, and TUI Cruises. The company now operates a fleet of 68 ships with space for nearly 167,000 passengers.
The cruise industry faced a severe downturn during the COVID-19 pandemic. In 2021, US passenger numbers dropped to just 2.17 million—a fall of nearly 85% from 2019 levels. The suspension of commercial cruises in early 2020 caused an estimated $77 billion in economic losses within six months.
Since the pandemic, Royal Caribbean has focused on stricter health and safety protocols to regain traveller confidence. By 2023, global cruise passenger numbers had rebounded, surpassing pre-pandemic figures. Nearly 35 million people booked cruises in 2024, up from 30 million in 2019.
The company’s voyages range from three to 14 nights, visiting over 1,000 ports across all seven continents. Its stock has also performed strongly, rising over 280% in the past five years. Recently, Royal Caribbean was selected as the first stock in the Voyager Portfolio for 2026.
Royal Caribbean now stands as a dominant force in the cruise market. With a growing fleet and restored passenger demand, the company continues to expand its global reach. The rebound in bookings and stock performance reflects its recovery since the pandemic.
